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Singer Sri Lanka launches the HONOR X9B

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(From Left to Right) Tharaka Warnakulasuriya (Marketing Manager - Digital Products, Singer Sri Lanka PLC), Jagath Perera (Director – Operations, Singer Sri Lanka PLC), Janmesh Antony (Marketing Director, Singer Sri Lanka PLC), Mahesh Wijewardene (CEO, Singer Group of Companies), Mohan Pandithage (Group Chairman, Singer Sri Lanka PLC), Zeng Lexing General Manager – Honor Sri Lanka, Brave Zhang, GTM Director, Asia Pacific – Honor, Thulitha Mendis (Commercial Director, Singer Sri Lanka PLC), Vajira Tennakoon (Sales Director, Singer Sri Lanka PLC), Ranidu Silva (Brand Manager, Singer Sri Lanka PLC).

Singer Sri Lanka PLC recently marked a significant milestone with the grand unveiling of the newest smartphone models from HONOR.

The event, hosted on Feb 22, at the Shangri-La Hotel, Colombo, showcased the technological prowess and innovative design of the HONOR X Series, underlining the flourishing partnership between Singer and HONOR. The event also celebrated the rapid success HONOR has enjoyed among Sri Lankan smartphone owners since having been introduced in April of last year.

“Our collaboration with HONOR is more than a partnership; it’s a shared journey towards excellence in technology accessible to all. The introduction of the HONOR X9b, along with the X7b and X8b, mirrors our dedication to innovation and quality. We are eager for the Sri Lankan consumers to experience the unmatched quality and value these models bring to the table,” stated Mahesh Wijewardene, CEO Singer Group, commenting on the launch of the new devices.

The launch event this year centered on the HONOR X9b, equipped with the pioneering Ultra-Bounce Anti-Drop Display technology. This feature has earned the device a “Five-Star Overall Drop Resistance” certification from SGS, an industry first, highlighting the brand’s commitment to blending innovation with durability as a hallmark of its promise to customers.

“We are thrilled to introduce the HONOR X Series to Sri Lanka marking an important milestone in the synergy between HONOR and SINGER. The HONOR X Series promises a host of advanced features tailored to exceed the expectations of our customers. Our journey with SINGER has been instrumental in making cutting-edge technology accessible to everyone in Sri Lanka, and we look forward to continuing this partnership to bring forward-thinking and reliable smartphone solutions to our valued consumers,” commented Zeng Lexing, Country Manager, HONOR Sri Lanka.

The launch event was not merely a showcase of new products, but a celebration of the success HONOR has enjoyed in Sri Lanka. Many distinguished guests including Mohan Pandithage, Chairman, Hayleys Group attended the event.



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LOLC Technologies joins hands with Microsoft to enhance core-banking with Azure

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[from left to right]: Prasanna Siriwardena, Deputy CEO of LOLC Technologies Ltd and CIO of LOLC Holdings PLC; Conrad Dias, Chairman of LOLC Technologies Ltd and Director of LOLC Holdings PLC; and Kapila Jayawardena, Managing Director/CEO of LOLC Holdings PLC together with Harsha Randeny, Country Manager for Microsoft Sri Lanka and Maldives and Dhammika Weerakoon, Corporate Accounts Lead for Sri Lanka and Maldives.

LOLC Technologies Limited, a subsidiary of the LOLC Group, has entered into a collaborative agreement with Microsoft to integrate Azure cloud services into “FusionX”, its core banking platform designed to meet evolving customer needs. This strategic move aims to upscale their operational architecture, enabling LOLC Technologies to harness the power of data and AI to expedite growth and success.

Through Azure, LOLC Technologies can harness cloud-native services to enhance FusionX by enabling scalability, agility, and AI-driven efficiency. Azure serves as the foundation, empowering LOLC Technologies to achieve its evolving digital goals by delivering tailored experiences that meet today’s unique banking demands. Azure’s secure and easily deployable nature, along with its AI capabilities, enables existing functions to be updated without needing a complete rebuild, simplifying the process of rolling back updates. Azure provides FusionX with an additional layer of cybersecurity to counter potential threats and implement best security practices. Consequently, as the organization designs new banking solutions, they do so with a proactive stance against threats.

Speaking on the adoption, Prasanna Siriwardena, Deputy CEO, LOLC Technologies Ltd and CIO, LOLC Holdings PLC, said, “This is not just a technological advancement, but a strategic transformation aimed at positioning LOLC Technologies at the forefront of digital banking solutions. By leveraging the unparallelled agility and resilience of Microsoft Azure, we are focused on redefining financial services. With this shift, we have empowered BFSIs to evolve rapidly while unlocking AI’s full potential through a real-time analytics platform.”

Strategizing for international growth, the company aims to enhance its products’ capabilities by leveraging the cloud service architecture of Microsoft Azure to boost value addition. The Cloud Adoption Framework within Azure will assist LOLC Technologies and their teams in improving operational efficiencies and promptly closing feedback loops, allowing them to cleverly align their business goals, operations, and vision.

Harsha Randeny, Country Manager for Microsoft Sri Lanka and Maldives, added, “We are enthusiastic about supporting LOLC Technologies break ground on their undertaking to elevate operations through AI automation. Not only are we looking forward to guiding LOLC Technologies through this transition, but we’re also keen on optimizing the organization’s leveraging of Microsoft AI Solutions at every level. We trust that with these tools at their disposal, LOLC Technologies will forge ahead with inventive opportunities.”

Microsoft is committed to empowering LOLC Technologies to drive innovation and transform their business with AI, leveraging cloud agility to support their evolution and advance their core banking capabilities.

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Low investor participation in share market but trading takes positive direction

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By Hiran H.Senewiratne

Stock trading was positive yesterday but investor participation remained at a lower range. The turnover level was 60 percent down compared to previous days after suffering its worst dip in over two years and losing Rs. 188 billion in value on Wednesday, market analysts said.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 227.95 points while S and P SL20 rose by 72.87 points. Turnover stood at Rs 2 billion with four crossings.

Those crossings were reported in JKH, which crossed six million shares to the tune of Rs 136.3 million, its shares traded at Rs 22.70, Melstacope 450,000 shares crossed for Rs 58.3 million; its shares traded at Rs 130, ACL Cables 250,000 shares crossed for Rs 33.7 million; its shares traded at Rs 135 and Dialog 2 million shares crossed to the tune of Rs 26.2 million; its shares traded at Rs 13.10.

In the retail market top six companies that mainly contributed to the turnover were; Browns Investments Rs 115 million (13.2 million shares traded), Access Engineering Rs 88.7 million (2.1 million shares traded), CIC Holdings Rs 88.5 million (792,000 shares traded), Melstacope Rs 85.9 million (678,000 shares traded), Dipped Products Rs 67.8 million (1.1 million shares traded) and Sampath Bank Rs 66.9 million (557,000 shares traded). During the day 78 million share volumes changed hands in 17970 transactions.

During the day the main contributors to the All Share Price Index were, Ceylinco Insurance, 34 points, Melstacope 25 points and JKH 21 points.

It is said that high net worth and institutional investor participation was noted in Amana Bank, Access Engineering and Teejay Lanka. Mixed interest was observed in Browns Investments, HNB and LOLC Holdings, while retail interest was noted in LOLC Finance, Waskaduwa Beach Resort and Dialog Axiata.

The banking sector was the top contributor to the market turnover (due to HNB and Amana Bank), while the sector index gained 0.76 percent. The share price of HNB edged up by 25 cents to Rs. 334.25. The share price of Amana Bank moved down by 10 cents to Rs. 25.

The Capital Goods sector was the second highest contributor to the market turnover (due to Access Engineering), while the sector index increased by 0.79 percent. The share price of Access Engineering recorded a gain of Rs. 1.10 to reach Rs. 40.

Yesterday the rupee was quoted at Rs 298.40/80 to the US dollar in the spot market, stable from Rs 298.40/70 to the US dollar the previous day, dealers said, while bond yields were broadly steady.

A bond maturing on 15.12.2026 was quoted at 9.05/15 percent, up from 9.05/10 percent. A bond maturing on 15.10.2027 was quoted at 9.75/85 percent, up from 9.70/80 percent. A bond maturing on 15.02.2028 was quoted at 10.13/17 percent, down from 10.15/17 percent. A bond maturing on 01.07.2028 was quoted at 10.35/38 percent. A bond maturing on 15.09.2029 was quoted at 10.80/85 percent, down from 10.82/90 percent. A bond maturing on 15.10.2030 was quoted at 11.23/28 percent, down from 11.23/33 percent.

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Timeless elegance and masterful craftsmanship on display

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Director of Hirdaramani Group of Companies Siddarth Hirdaramani, Chairman of Sifani Jewellers Rizvan Sahabdeen and CEO of Chatham Luxury Watches Indrajith Ranawana

Chatham Luxury -the exclusive representative of Chopard in Sri Lanka- held a private preview of the Swiss luxury brand’s newest watch and jewellery collections on Thursday the 23rd of January at the Chatham Flagship Boutique at Galle Face Court; making it the first time a global jewellery label showcased in Sri Lanka.

Representing Chopard at the intimate event was Xavier Lasserre, International Sales Manager of the brand; and as the evening unfolded, models gracefully exhibited exquisite timepieces and jewellery while Lasserre introduced every coveted creation on display with fascinating insight into the design and craftsmanship behind each, while also speaking to the ethos, heritage, and vision of the brand.

Under the spotlight were some of the luxury label’s newest creations that reflected both the masterful artistry and calibre of Chopard, namely the latest additions to the iconic Happy Diamonds and Ice Cube collections.

Chopard’s Happy Diamonds luxury jewellery capsule with its quintessential ‘dancing diamonds’ is recognised for its authentic elegant charm. On the other hand, the brand’s Ice Cube collection of luxury rings, diamond pendants, bracelets, and earrings, perfectly marry classical glamour and sleek modernity.

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